Neurogene (NASDAQ:NGNE) Sees Strong Trading Volume – Should You Buy?

Neurogene Inc. (NASDAQ:NGNE) saw unusually-strong trading volume on Monday . Approximately 295,708 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 185,399 shares.The stock last traded at $40.3610 and had previously closed at $38.63.

Analysts Set New Price Targets

NGNE has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research note on Friday, July 17th. Rodman & Renshaw started coverage on Neurogene in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $70.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. HC Wainwright lowered their target price on Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Finally, Guggenheim raised their target price on shares of Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Neurogene Stock Up 3.0%

The company has a market capitalization of $817.21 million, a PE ratio of -8.12 and a beta of 1.70. The firm’s 50 day simple moving average is $35.43 and its 200 day simple moving average is $27.94.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share for the quarter, missing the consensus estimate of ($1.42) by ($0.11). As a group, sell-side analysts predict that Neurogene Inc. will post -5.62 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total value of $151,746.00. Following the sale, the chief financial officer directly owned 84,040 shares of the company’s stock, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 9,600 shares of company stock valued at $339,932. Corporate insiders own 11.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in shares of Neurogene by 35.3% in the fourth quarter. Jennison Associates LLC now owns 533,088 shares of the company’s stock worth $10,982,000 after buying an additional 138,999 shares during the period. Renaissance Technologies LLC lifted its position in shares of Neurogene by 210.0% during the first quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock worth $875,000 after purchasing an additional 29,400 shares during the last quarter. Trails Edge Capital Partners LP purchased a new stake in shares of Neurogene during the second quarter valued at $22,483,133,000. Moore Capital Management LP bought a new position in shares of Neurogene in the second quarter worth about $4,454,000. Finally, Seven Fleet Capital Management LP bought a new position in shares of Neurogene in the second quarter worth about $694,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.